Complications Cloud Possibility of a Movie Based on ‘Watchman’

By MICHAEL CIEPLY and BROOKS BARNES

Town Revisits Its ‘Mockingbird’ Past

As Harper Lee’s new novel, “Go Set a Watchman,” debuts, her hometown of Monroeville, Ala., takes stock of its Harper Leerelationship to the writer and her work.

LOS ANGELES — Typically, the outsize attention given a novel like “Go Set a Watchman” would set off an immediate scramble in Hollywood for the film rights.

But, as with seemingly everything surrounding the recently rediscovered book by Harper Lee, which was published on Tuesday by HarperCollins, the situation is not that simple.

Those who represent Ms. Lee say they are not entertaining any offers at the moment, to comply with her request that the film rights be sold only after international publication of the book is complete. Beyond that, there is a question of what role Universal Pictures, which released the film version of Ms. Lee’s “To Kill a Mockingbird” in 1962, would play in a film of “Watchman,” which has several of the same characters.

Other concerns may include an uncertain audience for ’50s-era period film, and how moviegoers would respond to a new portrayal of the lawyer Atticus Finch, who is depicted as a racist in “Watchman,” but is so identified with Gregory Peck’s Oscar-winning portrayal of him as a colorblind champion of justice in “Mockingbird.”

Ms. Lee “is quite particular about film rights in general and would want to have a say in how it is produced,” Andrew Nurnberg, the British agent who represents Ms. Lee, said in an email about any prospective movie version of “Watchman.”

Mr. Nurnberg gave no specific time table for when the rights might be sold, but said the book had generated “heaps of interest” among film companies. He added that some inquirers have also expressed interest in remaking “To Kill a Mockingbird,” which Ms. Lee opposes.

In any case, Universal’s role in any film based on “Watchman” still needs to be clarified. A spokeswoman for Universal declined to comment.

But two people briefed on the studio’s position, who spoke on the condition of anonymity, said Universal executives thought that no film could be made from “Go Set a Watchman” without their consent or participation. One of those people said the studio — which has become more focused on blockbuster fare like “50 Shades of Grey” and “Jurassic World” — had not yet decided whether it would welcome or participate in any screen version of the new book.

Deals and disputes over the control of characters have led to situations as complicated as one that found MGM, Universal and Dino De Laurentiis sharing credits on “Hannibal,” which folded the cannibal Hannibal Lecter and the F.B.I. agent Clarice Starling into a film that had to reconcile rights related to Thomas Harris novels, a De Laurentiis film called “Manhunter” and “Silence of the Lambs,” which had been released by Orion Pictures before its acquisition by MGM.

Robert Mulligan, who directed “To Kill a Mockingbird,” joined Alan J. Pakula, its producer, in making it through their Pakula-Mulligan company. They introduced the book to Mr. Peck, whose own Brentwood Productions joined in the project.

Sandy Mulligan, Mr. Mulligan’s widow, and Hannah Pakula, Mr. Pakula’s widow, declined to discuss whether the Mulligan or Pakula estates held sequel or character rights.

Shot on Universal’s back lot, “To Kill a Mockingbird” became what one former Universal executive this week referred to as a “sacred” property. It has not been mined for remakes or sequels and its principal relic on the lot — the character Boo Radley’s house — has been kept off the studio’s regular tram tour, though it is occasionally opened to V.I.P. tours.

Mr. Peck died in 2003 at 87. Until the end of his life, he answered letters and spoke to groups about Atticus, who came to stand for opposition to racial bias.

(In 1999, Mr. Peck became the second recipient, after Harry Belafonte, of the Marian Anderson Award, which recognizes artists who effect social change.)

“I never had a part that came close to being the real me until Atticus Finch,” he once said, according to Lynn Haney Trowbridge’s 2003 biography, “Gregory Peck: A Charmed Life.”

Carey Paul Peck, one of Mr. Peck’s children, said he did not know whether the Peck estate held rights that might complicate any attempt to film “Go Set a Watchman.”

Asked whether he had concerns about the characterization of Finch in “Watchman,” in which it is revealed that he once attended a Klan meeting, Mr. Peck said he did not.

“Have at it. It’s a free society,” Mr. Peck said in a phone interview.

At the same time, he said he did not expect that any film of “Watchman” would approach the achievement of “Mockingbird.”

“That’s kind of the gold, the rest is dross,” he said. “It’s not going to be the same caliber.”

Netflix, which has rights to show “To Kill a Mockingbird” on its service, has not yet considered “Go Set a Watchman” as the basis for a new film or show, a person briefed on the matter said. HBO similarly has no plans for a film project. One executive with a company that has helped to finance prominent films in the United States and Britain questioned whether any studio would invest in the period drama, unless a star of, say, Leonardo DiCaprio’s stature were to agree to play the role of Atticus. (In the book, the character is 72.)

Ms. Trowbridge said she believed that Gregory Peck would have applauded a new film, even one that presented a more complicated view of Atticus Finch.

“He was a sophisticated, educated reader,” Ms. Trowbridge said. “I think he would have said, go ahead.”

Ms. Trowbridge’s biography portrayed Mr. Peck as having viewed both Atticus Finch and Ms. Lee’s father, A. C. Lee, on whom Finch was based, as almost uniquely without flaw: “Asked if any human being could be as noble and idealistic as Atticus, Greg said, ‘I’ve met two in my lifetime — my own father and Harper Lee’s.’ ”

Mr. Peck wore A. C. Lee’s gold watch to the 1963 Oscar ceremony as a good-luck charm, and came away with the best actor award.

Mary Badham, nominated as best supporting actress that year for her portrayal of Finch’s young daughter, Scout, said she saw the makings of a fine film in “Go Set a Watchman.”

But that, she said, would require close attention to an aspect of the book and of Atticus that she thinks some have overlooked. Some early readers have focused on the unseemly opposition Atticus has to the National Association for the Advancement of Colored People, for instance, without catching the extent to which, Ms. Badham said, Finch may be engaging in dialectics meant to challenge his now-grown daughter.

“In the right hands, it could do very well,” Ms. Badham said. “But it needs very sensitive handling.”

Alexandra Alter contributed reporting from New York.

Source: www.nytimes.com A version of this article appears in print on July 17, 2015, on page B1 of the New York edition with the headline: Film Version of ‘Watchman’? First, Untangling the Rights . Order Reprints| Today’s Paper|Subscribe

 

Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning. She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about. Annino recently released her new book, “It’s More Than Money, Protect Your Legacy” available at Amazon.com. To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

Understanding Your Estate Planning Goals

estate planningMany of the families I have worked with have unwritten rules about what their true north fundamental values are, and when entering into a family through marriage, it is important to look at what those are, what the undercurrents are and how they mesh with the entering spouse’s value system. To create a sustainable legacy the values must mesh so that when shocks (good or bad) come to the system, the system becomes stronger because it has built in mechanisms to sustain those shocks.

When a family does not have a clear vision of its own true north, or when that vision is clouded or destroyed, chaos happens. One family I have worked with has an unwritten rule that in-laws will never really be part of the family. The daughter-in-law never understood that rule (although all the warning signs were there) and after a lavish wedding was hurt and surprised that she was not treated better by the parents.

Four children and ten years later she sued the son for divorce, and it is one of the ugliest divorces I have ever seen, with continuous litigation in which the parents have had to participate through depositions and discovery. This is a wealthy family, but the root of the disagreement has nothing to do with money and everything to do with the family value that excludes in-laws. The son never stood up to his parents and allowed the emotional abuse of his wife to continue for a very long time.

Observing this from the sidelines it is interesting to note that if the daughter-in-law had understood the family code and accepted that she was not going to change it and gone in knowingly, her surprise and resentment could have been mitigated. If her husband had stood up to his parents, that may have helped. If they had strengthened their bond through counseling, that may have helped. If husband and wife had had a frank discussion with the parents, that may have helped. None of that happened and chaos ensued.

In another family I worked with, the father, patriarch of the family and founder of a very successful business, was diagnosed with cancer in his 50’s and knew that the cancer was a death sentence. His 25-year-old son was working in the business with him, and the father knew he was not ready to take the helm. We decided to have a very frank discussion with the family so that the family and his son could hear from the father himself what mattered. The family had been under the impression that the prime value in the family was working hard and making a successful business. That was true, but the father’s final illness put on the table the true value – family first, business second. In a very poignant discussion three months before the father died, he gathered his family (and me) and told his son that he did not want the legacy of the business to be his son’s legacy, that he knew his son was not quite ready, that he would fight for his life as long as he could but that death was inevitable. He gave his son permission to try to run the business (even if he failed), shrink the business, hire others, sell the business or do whatever else was prudent. (As will be discussed in the next chapter the financial security of his wife had already been handled by another mechanism so the son did not have the additional concern of knowing that any business risk impacted his mother’s financial security).

The meeting was one of the most powerful discussions I have ever witnessed. There were a lot of tears. The father died. The son decided to try to continue his father’s legacy and fifteen years later the business is very successful and the family is intact. What is most impressive to me is the fact that in the final inning the father had the courage to have this discussion and made it clear to all that he was giving permission for the son to make the decisions, even if that meant the business failed. It was one of the clearest examples of family first I have ever had the privilege to observe.

Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning. She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about. Annino recently released her new book, “It’s More Than Money, Protect Your Legacy” available at Amazon.com. To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

The Goal of Generational Philanthropy

Man watering plant image, family legacyI worked with a family with its center goal using its financial and social wealth to make a difference in the world at large through concentrated philanthropic efforts. The family’s financial wealth was built generations ago. Individual wealth of the family members no longer exists across the board at the level of the founders. What endures is a well funded philanthropic foundation whose goal is to implement change in very specific areas – education and faith.

The founders of the business that created the foundation were hard working and grateful for the ability to support themselves through their endeavor. They believed what Teddy Roosevelt said when he enacted the federal gift tax – “The transmission of enormous wealth to young men does not do them any real service and is of great and genuine detriment to the community at large.”

The third generation is a now steward of that wealth and focuses it on making a difference in these areas. Even though the family created significant wealth through its entrepenruial efforts, its overriding value was: to whom much has been given, much is expected and it is better to give than to receive.

It is interesting that one family member in the third generation who has achieved significant wealth from his own entrepreneurial activities has also begun his own philanthropic legacy (in addition to carrying on the family legacy). The difference in the goals is that with the founders, the goal was to build the wealth and then, when they accomplished far more than they could ever have contemplated, the goal became to give it away. The oldest son’s goals became to achieve significant wealth and give it away. While his children were growing up, the dinner table conversation was focused on both building wealth and the philanthropic impact of that wealth. The legacy of philanthropy – three generations later – is continuing. The youngest generation now wants to focus on building significant wealth again so their legacy of philanthropy can be individualized if they themselves create the wealth they are giving away.

Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning. She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about. Annino recently released her new book, “It’s More Than Money, Protect Your Legacy” available at Amazon.com. To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

A Goal of Hard Work Created The Family’s Estate

Home and money image, estate planningAn Italian immigrant I know came to this country at a very young age with a grade school education and aspirations of a better life for himself and his family. Those aspirations brought him to work with what he knew – real estate. To him, land meant wealth that could never be taken away. He did not need a college education to develop real estate. He knew with good tenants there would be good cash flow. His immediate goal was survival coupled with those America stands for (land of the free, home of the brave and a place where hard work can bring tangible, financial rewards).

He started his family in a traditional marriage and raised hardworking children. (It is interesting to note he never viewed a good college education as a key value for his family; he valued hard work. It was fine if his children were educated, but that was not a goal). His initial goals were a strong family and wealth through hard work and entrepreneurism in real estate.

As time and life went on, his net worth increased and the course became tougher and the goals increased. He instinctively followed the message of IBM founder, Tom Watson who said, “I’m no genius, but I’m smart in spots, and I stay around those spots.” He stuck to his mission and did not enter into new lines of businesses for three decades. As he became successful, he bought more real estate and more real estate and more real estate. He involved his children in the real estate business at very young ages – discussing it with their parents at the dinner table, piling into the car after dinner and driving through the small city looking at what was for sale, how each piece was valued, where the trends were, what was successful, what was not successful. If the father saw a property that he thought was a “catch”, he would call the owner and make an offer – whether or not the property was formally for sale. His now adult son told me that the habit of driving around for a few hours every night is still ingrained in him, and no matter where he and his family travel, they still do an ongoing analysis of the real estate.

The patriarch reached the point where he owned most of the town and employed many of the citizens in construction and real estate management. To him their families were as important as his own. He valued hard work and loyalty, helping his workers out in difficult personal times or illness.

His goal of coming from Italy to America to raise a family and achieve success was surpassed in the first ten years; yet he never stopped raising the bar, achieving new goals and setting new standards. He remained on the cutting edge of real estate development and his goal grew into revitalizing and shaping the city in which he lived. He wanted its people employed, and he wanted the city to be a magnet for those from other towns to come and shop and dine. His business broadened from acquiring apartment houses and office buildings to starting restaurants and stores.

His children and grandchildren (and most of their spouses) are all employed at some level in the family enterprise since, in addition to his entrepreneurial aspirations, a central value was a tight knit family with a sense of safety. His goal became to use the enterprise he’d built as a safety net for his family, his employees and his community – yet to continue to instill hard work. No one individual (including his family members) would ever become independently wealthy from the enterprise. It is held in a dynasty trust and will continue to support his goals long past his time on this earth.

Although he did not set off with a specific end goal in mind, he knew his compass was set to true north. He used that as a guide and kept course through the obstacles life threw him. His business and family were sustained because of his focus and persistence on his chosen direction. His story is one that shows that although it may be important to know what your long-term goals are – write them down and adjust them and you go – the goals that emanate from true north are instinctual. With focus and perseverance they endure. I am confident every member of his family and his extended family understands that his values are what they have accomplished and what matter to them.

 

Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning. She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about. Annino recently released her new book, “It’s More Than Money, Protect Your Legacy” available at Amazon.com. To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

Managing Estate Goals in The Family Business

12-9-14_managing_estate_goalsIn life there will be major goals, and supporting goals. Major goals should be set in the areas of business (including career, family business), finance (including family wealth), education (including what it means to the family and how it will be paid for), family (marriage, children, extended family), creativity (artistic, visionary interests), physical care (health and exercise), public service (issues of importance), faith (religious services, education and participation), and community (whether the community is local such as the town or city, or virtual through other connections).

These goals all connect with each other and when built together, create a sustainable family system grounded in the “true north values” – the course the family wants to go, as well as its ultimate destination and arrival time.

The goals should align with the fundamental values. For example, if the fundamental family values are entrepreneurism and a sense of family safety and if a major goal is to establish a profitable family business in the local community that will employ and support this generation and following generations, then each of the areas referenced above should be explored as part of the goal-setting process.

Goals will change as life and generations change. In some ways legacy goal setting (at the Meta level) is akin to Maslow’s hierarchy of needs. However, at the foundational base are the true north values that each family has. The goals and objectives build from those values and plot the course for the future shaping of the legacy.

These goals will include financial safety and survival, and then when congruent with the true north values will lead to sustainability and perhaps affluence. Financial security or affluence may lead to a greater desire to take care of the community and world at large. Of course, for most families this is not linear; it is just that the emphasis shines on different phases at differing points. Many families know what their true north is, work hard, have faith, and give back to the community and world at large. It is just that the amount of emphasis placed on each sector changes as the need the sector faces changes.

Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning. She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about. Annino recently released her new book, “It’s More Than Money, Protect Your Legacy” available at Amazon.com. To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

Who Will be the Captain of Your Estate Planning Ship?

Excerpt from Patricia’s new book: It’s More Than Money: Protect Your Legacy

“The thinking that created today’s problems is not the thinking that can solve those problems.” ~ Albert Einstein

9-14-2014 It's More Than Money Book CoverYour life and the legacy of your family is a movie (with sequels), not a snapshot. Why then do so many of us view our family values, financial decisions and legal documents as stand alone decisions that do not correlate with each other, are not compared to each other and are not integrated?

In my thirty years of practicing law and working with many families and family businesses in estate planning I have come to the conclusion that the most important role the head of the family can play is “Captain of the ship”. Effective planning is a bit like sailing.

When a captain sets off for a long sail, he needs to understand where he is going, how he is getting there, and what may occur along the way. Nature will always intercede. Weather and winds will change; storm waters and other hazards may lie ahead. But what is important is to set the plan and then stay flexible and keep checking the actual course against the planned course, and while doing that, to keep in mind the position of the compass set to “true north” – a fixed point centered on the values that are most important to you.

The elements of sailing are the foundation (an internal compass set to true north), goals and objectives (the mapped course) and the enabling structure (boat and sails). It is the responsibility of the Captain of the ship to be aware of all external forces (ocean, weather and wind) while sailing. The one element that is fixed is the direction of the compass – set to true north. All other elements must be congruent to true north and to each other. That gives the journey the best shot at success and sustainability.

For a family, sustainable planning includes the same elements – the foundational elements (values e.g. family first), the goals and objectives (how those values will be translated in life – family business, family investments, philanthropy, family activities) and the enabling structure (legal estate and business planning documents, financial investments and the team of advisors).

It is the responsibility of the family leader (the Captain) to be aware of all of these elements in the context of all external forces (changes in family members, changes in advisors, world economics, and business risks) while navigating life and legacy. These elements must all be congruent to the foundational family values and to each other. That gives the family the best shot at sustainability and legacy.

For many families the elements are done independently – with separate advisors who do not know each other, never speak and do not have direct knowledge of what the others are doing. And for many families at least one of these elements may not be done at all or may be quite outdated.

For a plan and its legacy to be sustainable, the elements must be integrated and congruent. The legal plan should align with the family goals and match the legal and financial documents. If your family is connected by a family business, real estate or philanthropic endeavor, is the estate plan for the family system in agreement with its financial plan and the family objectives? A congruent plan increases the probability of sustaining what that family has worked so hard to put in place and builds its legacy.

For most families the answer to this question is “no”, but not for a lack of effort. It is because a plan is built up over many years by many independent professionals – the estate planning attorney, the accountant, the financial planner, the banker, the life insurance professional, and the philanthropic advisor – each focused on a different part of the system. Even though their work may be independently excellent, most of the time they are responding to a need that was expressed in a certain time frame – minimize estate taxes, determine who should control the vote of the company stock, equalize the assets, protect assets from a child or sibling divorce, etc. Even if the “team” communicates well at these independent junctures, it is unlikely that communication is deep or continuous.
Professionals focus on what they know. Every well-meaning and talented advisor goes back to his/her specialty to answer a need or solve a problem. Some families have a family office or trusted advisor they are fortunate to work closely with.

Experience has shown that this improves communication but does not provide the unique perspective that can be viewed when zooming down on the system from 30,000 feet above. Perspective is important. It is only when the system is independently reviewed from on high – from that 30,000 foot level – that black holes in coverage – those areas that no family member or advisor thought of because each was focused on his own specialty – become readily visible.

No advisor can do that for you. It is your responsibility, as the family leader, to make sure all the elements of your plan are congruent, and the best way to for you to do so is to view the planning as Captain of the ship from that “on high” perspective.

Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning. She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about. Annino recently released her new book, “It’s More Than Money, Protect Your Legacy” available at Amazon.com. To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

Teaching Your Children About Wealth

Families are using limited liability companies to transfer assets between generations.

By Liz Moyer

Do you need a family limited liability company, like Bill Gates? Reuters family investment, Image of Bill Gates

Wealthy families are increasingly turning to family limited liability companies to minimize taxes and transfer assets between generations.

The strategy helps provide hands-on investment education for the younger generation without forcing older family members to cede control and offers other benefits.

Advisers to high-net-worth families say the LLC arrangement is gaining popularity as older generations in North America prepare to transfer an estimated $30 trillion in assets to heirs in the coming decades, according to the consulting firm Accenture.

The growing interest among the wealthy in education and financial literacy since the financial crisis has made LLCs more popular, says Linda Beerman, head of wealth strategies at Atlantic Trust, Canadian Imperial Bank of Commerce’s CM -2.13% U.S. wealth-management arm, which has $24 billion under management and manages family LLCs for some of its clients.

Typically, an older-generation member—who acts as the managing partner—forms an LLC to create a family investment pool using assets such as commercial property, vacant land, a family business or an investment portfolio. The managing partner can make gifts of limited-partnership interests directly to other family members, such as children and grandchildren, or to their trusts. In some cases, family members can buy shares in the LLC.
The managing partner retains control of the assets, but the limited partners get to observe how investment decisions are made and, in some cases, help establish the investment mission.

The assets inside the LLC are protected from creditors, including divorcing spouses, which has made them popular with families that own their own businesses, lawyers said.

“It’s seen by the kids as graduating into the family,” Ms. Beerman says. “It gives them a sense of ownership.”

The booming markets of the past few years have made them popular for another reason, experts say. Because the limited shares in an LLC are minority interests, the value of the assets that are transferred into the LLC can be discounted from their fair-market value for tax purposes.

Such discounts typically range from 15% to 25%, and can go as high as 30%. For example, consider an asset with a $1 million fair-market value. Inside an LLC, that asset would be less valuable because multiple owners have minority stakes but no control. If it was valued at 25% below its fair-market value, its taxable value would be $750,000.

Rising markets have motivated families to lock in those lower valuations, says Richard Baum, a partner at accounting firm Anchin Block & Anchin in New York. That way, he says, “you can pass wealth to the next generation using the lowest possible value.”

One famous example of a family LLC is Bill Gates’s Cascade Investment LLC, which is based in Kirkland, Wash., and manages a portion of the Gates family money.

There are some drawbacks, estate lawyers and advisers say. To avoid scrutiny by the Internal Revenue Service, a family LLC needs to serve a legitimate business purpose.

That can include managing commercial property or a family’s investment portfolio, but not other holdings, such as a vacation home that is used by the family. The LLC interest holders must meet regularly, maintain current state filings and keep detailed records of income, expenses, contributions and distributions.

Families can use an LLC to buy and hold stakes in exclusive investments such as timberland or private-equity funds. Conversely, a family with its own business can set up an LLC to diversify its investments. The LLC also could be set up to forbid family members from selling their stakes unless everyone agrees or require a certain percentage of shareholders to agree to investment decisions.

In some cases, families are setting up these companies to pool their assets so they can qualify for the most exclusive private-banking services at firms such as J.P. Morgan Chase, JPM -0.27% Goldman Sachs Group GS -0.58% and UBS, UBS -0.54% says Jonathan Forster, a lawyer at Greenberg Traurig in McLean, Va., who has set up family limited liability companies for clients with at least $30 million of assets.

“People are using these structures more because they are using more sophisticated investments,” Mr. Forster says. “They’re not just buying stocks and bonds. They’re buying commercial real estate or private company stakes.”
Source: The Wall Street Journal – wsj.com Write to Liz Moyer at liz.moyer@wsj.com

Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning. She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about. Annino recently released her new book, “It’s More Than Money, Protect Your Legacy” available at Amazon.com. To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

Patricia Annino Receives “Best in Wealth Management” Award

The Euromoney Legal Media Group chose Patricia Annino, Chair of Prince Lobel’s Estate Planning and Probate Practice Group, to receive the prestigious “Best in Wealth Management” award at the second annual Americas Women in Business Law Award ceremony held May 24, 2012, in New York City.

Selected from a short-list of eight well-known, highly-qualified nominees, Patricia’s award was based on extensive peer review research conducted by Euromoney’s research team, her professional accomplishments during the past 12 months, and her advocacy and influence in the field of wealth management.

Following the success of similar award ceremonies in Europe and Asia, the Americas Women in Business Law Awards was launched by Euromoney Legal Media Group to give law firms and professional services firms the recognition they deserve for their efforts in helping women advance in the legal profession.

Patricia Annino is a nationally recognized expert on estate planning and taxation, with more than 25 years of experience serving the estate planning needs of families, individuals, and owners of closely held and family businesses. She speaks regularly on many issues of concern to family owned businesses, including succession planning, risk management, managing a business with multiple stakeholders, the risk of divorce, and more. Annino is a graduate of Smith College and Suffolk University School of Law.

Patricia is the author of two widely utilized professional texts: Estate Planning in Massachusetts, and Taxwise Planning for Aging, Ill, or Incapacitated Clients. Patricia’s recent books for consumers include, Cracking the $$ Code: What Successful Men Know and You Don’t (Yet), Women in Family Business: What Keeps You up at Night, and Women & Money, A Practical Guide to Estate Planning.

About Prince Lobel

Prince Lobel Tye LLP is a full-service law firm providing a wide range of services for Fortune 1000 companies, closely held businesses, and individuals. Prince Lobel’s attorneys are guided by the highest standards of legal excellence, professionalism, and service – whether they are addressing complex business issues or providing advice on personal legal matters. Practice areas and industries served encompass corporate law, data privacy and security, domestic relations, employment law, estate planning and probate, insurance and reinsurance, intellectual property and Internet law, litigation, media law, nanotechnology, real estate, telecommunications law, construction law, environmental law, renewable energy, health care, and education. For more information, visit Prince Lobel at PrinceLobel.com.

Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning.  She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about.  Annino recently released an updated version of her successful book, Women and Money: A Practical Guide to Estate Planning to include recent changes in the laws that govern how we protect our assets during and beyond our lifetime.  To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

How Psychedelic Drugs Can Help Patients Face Death & What it Means to Estate Planning Effected Towards the End

I recently read an article in the New York Times (read article here: http://nyti.ms/Kp9yct) about a study using Psychedelic Drugs to help patients cope with facing death as the result of a life-ending diagnosis, like cancer.  In the article it indicated that these end-of-life researchers only included otherwise healthy patients, those with no indication of mental illness, in the study.

These drugs are also being examined as treatment for alcoholism and other addictions.  While I can see the advantages of such treatment for those facing the end of their lives due to grave illnesses, it also makes me very aware of how this might affect the ability for someone to consider and finalize their estate planning needs at a time when they are not only facing their own demise, but while under the influence of psychedelic drugs.

Could this open up their decisions to scrutiny after their death?  Even though they are otherwise considered of sound mind, does this open the door for others to challenge a person’s Will or other estate planning functions finalized after such diagnosis, and while using psychedelic drugs.

I am an advocate for putting your affairs in order early on, long before you might be facing something like this, but the reality is, even if plans had been made, depending upon the individual situation, such a diagnosis could cause someone to rethink or alter their plans.

It seems like we would need to take some sort of extra steps during this process to make sure we can forego any challenges that could or would be made to change your final wishes.  I’m not exactly sure what that might look like, how we could provide verification of your ‘sound’ mind at such a time.

What do you think?  Leave your comments or questions below and expand the discussion!

Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning.  She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about.  Annino recently released an updated version of her successful book, Women and Money: A Practical Guide to Estate Planning to include recent changes in the laws that govern how we protect our assets during and beyond our lifetime.  To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

Women In Family Business – The Importance of Clarity

By Patricia Annino, J.D., Thomas Davidow, Ed.D. & Cynthia Adams Harrison, Ed.D., LICSW

The Importance of Clarity

The more you and your husband agree to treat the business as a performance arena in which preparation is everything, the more productive your child will be. Similarly, the clearer you can be in terms of creating structures, the better off your child will be when he does enter the business. Being proactive about creating routines through governance structures or through accurate job descriptions is very helpful. If your child is already working in the business, you and your husband can discuss how to create sensible structures with appropriate boundaries. Everyone performs better when they know what’s expected and what the rules are.

Be Informed-Be Influential – Points to Remember

  • If your husband resists talking to you about the business or is upset about something at work and won’t share why, don’t take it personally and don’t give up.
  • Men and women really are different in how they think, behave, feel good about themselves and communicate.
  • When you set a limit for your husband, you are actually encouraging him: You are telling him that he is capable of achieving his goals as a businessman, husband and father.
  • It is possible to find the balance between creating objective criteria for your child’s performance in the business and maintaining family harmony.
  • There’s a difference between granting your child the automatic right to work in the business and giving him the opportunity to do so.
  • Things go best when there is consistent communication between you and your husband and between both of you and your child.

Patricia Annino is a sought after speaker and nationally recognized authority on women and estate planning.  She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about.  Annino recently released an updated version of her successful book, Women and Money: A Practical Guide to Estate Planning to include recent changes in the laws that govern how we protect our assets during and beyond our lifetime.  To download Annino’s FREE eBook, Estate Planning 101 visit, http://www.patriciaannino.com.

 

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